First Time Homebuyer Real Estate Home Buying Tips Use the Real Estate Home Sales Price Affordability Guide to determine the price range of homes you could be looking into. First time homebuyers should know the difference between a sellers agent and a buyers agent. Using a buyers agent can save you money and time according to the National Association of Realtors. Click How do Sales Agents and Buyers Agents Differ? Who is paying the commission and whos' agent are you dealing with? Who is playing who? If you find a home that you want, it's OK to start the negotiation process within 90% of the asking price. Focus on the sales price of the house. Don't antagonize the seller over nonessentials like the air conditioner, appliances, wood burning stove, etc. Ask the seller to share in closing costs to help in reducing the over all cost. Arrange for a home inspection if you have any doubts about hidden construction flaws. Many times the seller will pick up the costs or split them if you ask them to. Do this and you will not suffer first time homebuyers remorse over defects that you did not notice. Find a real estate agent who is professional so you do not waste valuable time or your hard earned money making costly errors. If you are a first time homebuyer or a veteran, it pays to avoid part-timers and the 80% who don't deliver. Finding a "Buyers Agent" to represent you can save you money, too. By finding an agent acting solely on your behalf, you receive better legal protection and get an edge in negotiations. Watch out for "For Sale By Owner" people selling their own homes. They often concoct inflated prices for their homes, even tacking on a commission for themselves. Foreclosed properties held by government agencies or other lenders offer great value if you are willing to do a little work. Most probably, you will need an agent. A good agent will first inform you of more possibilities than you would have thought of and will cost you nothing since the fees are usually picked up by the seller. Buy from motivated sellers who can save you money. Builders often offer incentives or price reductions to reduce their inventory that is sitting idly eating away at their potential profit margin. Death, divorce, job transfers, illness are other reasons people are motivated to sell their property fast and accept a lower priced offer. First timers should be aware of these possibilities. To maximize future equity potential, it is usually wiser to buy an equally priced, run-down house in a better neighborhood than a mansion in a poorer neighborhood. In time, with a little work and money, you can bring it up to par with others in the neighborhood. Don't let the seller know you are particularly interested in his house. Say "that's nice" and not too much more. If you are interested in a particular house, don't offend the homeowners' taste by criticizing their decorating or the unique traits enjoyed by their home. They may decide to sell to someone else to spite you. Visit the home in the day time and the night time (cockroaches and silverfish come out at night). Visit after a heavy rain to see if the cellar leaks or expensive drainage problems are apparent. If the seller says, we have a new septic, a new roof, etc. get everything in writing if you do not have a witness. Otherwise you do not have a case if you require future legal action. You may want to check out the neighbors, if there is a pedophile or recently released ax murderer in the neighborhood. A NY couple sued their real estate agent for 15 million dollars claiming they were never told of a pedophile in the neighborhood. They lost. Check first before it is too late. If you are "cash strapped" for the down payment, rather than offering a lower price, negotiate for the seller to contribute that portion toward the closing costs. For instance, if the closing costs and down payment amount to $10,000, with the seller contributing $7,000 (the reduced amount you offer for what the seller initially wanted for his home), you'll need only $3,000 in order to buy the house. See a Real Estate Monthly Payment Calculator for monthly mortgage repayment amounts. Save money by first shopping around for home owner's insurance. Don't take the first deal that is offered to you. Remember to insure the house only, not the land, against fire. Say, for instance, you bought a house for $200,000 and the land is worth $100,000 thereby making the house worth only $100,000. Just insure the house for its $100,000 replacement value. Dirt don't burn. Plan3D.com is a revolutionary concept in home design! Superior online interface allows the user to construct and manipulate a 3D model of their home or room. Free Home Design Web Tool: Design rooms, remodel kitchens, plan landscaping and more. New! www.Plan3D.com Establish a current Home Valuation Online in Real-Time! Detailed real estate property reports fit a variety of uses. Whether you're a Buyer, Property Owner, Assessor, Auditor, Appraiser, For Sale By Owner, Insurance Agency, or a Lending Institution, you can instantly and accurately determine your real estate values. Home Valuations! See a sample valuation NOW. Lowest rates on the web. Check for current refinacing rates. Data base of lowest current refinancing mortgage rates. Search Engine compares thousands of lenders rates for lowest rates. Mortgage Online quick quote If you are looking for a way to buy real estate and using a buyers agent makes sense, you may want to consider hiring a top-rated real estate professional in your area to represent you as a Buyers Agent. 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Buying Your House: First Time Tips on Buying Real Estate. Monthly Payment Calculator. Home Price First Time Homebuyer Affordability Guide. Buy vs Rent. Buying a Condo. Avoiding Closing Problems. Frequently Asked Questions. Buyers Agents. Site Index. Selling Your House: Tips on Selling & Marketing. Seller Fix-Up Advice. Reasons Houses Don't Sell. How to Price Your Home to Sell. Selling a Condo. Problems and Solutions For The Do-It-Yourself Seller. Sales Agents, Listing Agents. Mortgages: Mortgage Information. Mortgages Online. Property Taxes: Property Tax Appeals. Frequently Asked Questions. Reasons to Appeal Your Property Taxes. Additional Real Estate Info: Should I make improvements or not? What is the percentage of pay back? What types of improvements should I undertake? What types should I avoid? Interviewing Real Estate Brokers. Relocating? How to select the best qualified top rated agent in the area of your choice. Tax Benefits of selling real estate. Dictionary: Definitions of terms used in Real Estate. Real Estate Commissions: How do buyers agents and sales agents differ? Environmental Factors: Valuation of Contaminated Properties Discount Shopping Online - all shopping categories from prime outlet malls